NPC endorses approach paper of three-year interim plan

A meeting of National Planning Commission (NPC) chaired by Interim Election Government Chairman on Thursday Khil Raj Regmi endorsed the approach paper of the three-year interim plan with some revisions. The meeting also decided to get the document endorsed by the meeting of the National Development Council to be held next week, according to NPC Joint Secretary Puspa Lal Shakya. The council is represented by government ministers and representatives from political parties. The new periodic plan (2013- 2016), designed with an objective of upgrading Nepal to a developing country from the current status of least developed country within 2022, aims to attain an average 6 percent economic growth annually over the period. The country, however, needs to achieve average 7 percent growth to attain the target of becoming a developing country within 2022, according to the NPC. The proposed plan also aims to decrease the poverty rate to 18 percent from the current 23.8 percent. It plans to increase employment by 3.2 percent and keep inflation at 7 percent over the period. The government plans to spend about Rs 1.4 trillion in the next three, of which Rs 11 billion will be fulfilled from the revenue generation within the country. The rest will be arranged from foreign aid and internal loans. The government has planned to bring the three-year plan before the budget announcement so that policies and programmes could be formulated based on the same. The plan’s major priority areas include development of the energy sector, commercialisation of agriculture, improvement in basic education, health, drinking water and sanitation, good governance, expansion of roadways, development of physical infrastructures, tourism and trade. Interim Election Government Chairman Khil Raj Regmi and other government officials during a National Planning Commission meeting in Kathmandu on Thursday. POST PHOTO: KIRAN PANDAY